DUOL vs. IPKW

Last updated Jun 13, 2026

DUOL (Duolingo, Inc.) is a stock, while IPKW (Invesco International BuyBack Achievers™ ETF) is Global Equities fund tracking the NASDAQ International BuyBack Achievers Index. Over the past 3 years, DUOL returned -8.39%/yr vs 22.77%/yr for IPKW. At a 0.27 correlation, their price movements are largely independent.

Performance

DUOL vs. IPKW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Duolingo, Inc. (DUOL) and Invesco International BuyBack Achievers™ ETF (IPKW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DUOL achieves a -30.13% return, which is significantly lower than IPKW's 5.48% return.

DUOL

• 1D: -0.98%
• 1M: 12.34%
• YTD: -30.13%
• 6M: -37.52%
• 1Y: -74.37%
• 3Y*: -8.39%
• 5Y*: —
• 10Y*: —

IPKW

• 1D: 0.03%
• 1M: -1.22%
• YTD: 5.48%
• 6M: 7.67%
• 1Y: 23.37%
• 3Y*: 22.77%
• 5Y*: 9.12%
• 10Y*: 11.93%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DUOL vs. IPKW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DUOL Duolingo, Inc.	-30.13%	-45.87%	42.93%	218.92%	-32.97%	-24.96%
IPKW Invesco International BuyBack Achievers™ ETF	5.48%	45.50%	10.56%	15.12%	-12.81%	-5.52%

Correlation

The correlation between DUOL and IPKW is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (All Time) Calculated using the full available price history since Jul 28, 2021	0.27

Over the past year, the correlation between DUOL and IPKW has dropped to 0.04 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.

Return for Risk

DUOL vs. IPKW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DUOL

DUOL Risk / Return Rank: 5
DUOL Sharpe Ratio Rank: 2
DUOL Sortino Ratio Rank: 1
DUOL Omega Ratio Rank: 2
DUOL Calmar Ratio Rank: 6
DUOL Martin Ratio Rank: 14

IPKW

IPKW Risk / Return Rank: 53
IPKW Sharpe Ratio Rank: 51
IPKW Sortino Ratio Rank: 51
IPKW Omega Ratio Rank: 51
IPKW Calmar Ratio Rank: 57
IPKW Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DUOL vs. IPKW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Duolingo, Inc. (DUOL) and Invesco International BuyBack Achievers™ ETF (IPKW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DUOL	IPKW	Difference
Sharpe ratio: Return per unit of total volatility	-1.19	1.55	-2.74
Sortino ratio: Return per unit of downside risk	-2.31	2.22	-4.53
Omega ratio: Gain probability vs. loss probability	0.72	1.28	-0.56
Calmar ratio: Return relative to maximum drawdown	-0.92	2.49	-3.41
Martin ratio: Return relative to average drawdown	-1.26	8.37	-9.63

DUOL vs. IPKW - Sharpe Ratio Comparison

The current DUOL Sharpe Ratio is -1.19, which is lower than the IPKW Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of DUOL and IPKW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DUOL vs. IPKW - Drawdown Comparison

The maximum DUOL drawdown since its inception was -83.35%, which is greater than IPKW's maximum drawdown of -47.24%. Use the drawdown chart below to compare losses from any high point for DUOL and IPKW.

Drawdown Indicators

	DUOL	IPKW	Difference
Max Drawdown Largest peak-to-trough decline	-83.35%	-47.24%	-36.11%
Max Drawdown (1Y) Largest decline over 1 year	-81.19%	-9.14%	-72.05%
Max Drawdown (3Y) Largest decline over 3 years	-83.35%	-17.77%	-65.58%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.67%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.24%	—
Current Drawdown Current decline from peak	-77.32%	-3.00%	-74.32%
Average Drawdown Average peak-to-trough decline	-35.76%	-8.98%	-26.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	59.48%	2.72%	+56.76%

Volatility

DUOL vs. IPKW - Volatility Comparison

Duolingo, Inc. (DUOL) has a higher volatility of 15.67% compared to Invesco International BuyBack Achievers™ ETF (IPKW) at 4.33%. This indicates that DUOL's price experiences larger fluctuations and is considered to be riskier than IPKW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DUOL	IPKW	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.67%	4.33%	+11.34%
Volatility (6M) Calculated over the trailing 6-month period	40.94%	12.27%	+28.67%
Volatility (1Y) Calculated over the trailing 1-year period	62.97%	14.68%	+48.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.21%	17.06%	+49.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.21%	17.90%	+48.31%

Dividends

DUOL vs. IPKW - Dividend Comparison

DUOL has not paid dividends to shareholders, while IPKW's dividend yield for the trailing twelve months is around 3.54%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DUOL Duolingo, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IPKW Invesco International BuyBack Achievers™ ETF	3.54%	3.55%	4.12%	2.66%	3.77%	7.37%	1.45%	2.41%	2.61%	0.93%	2.82%	1.31%

Frequently Asked Questions

Can I hold both DUOL and IPKW in my portfolio?

DUOL and IPKW have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DUOL or IPKW?

DUOL has higher volatility (15.67%) compared to IPKW (4.33%). In terms of maximum drawdown, DUOL dropped -83.35% vs IPKW's -47.24%.

Which has better risk-adjusted returns?

IPKW currently has the higher Sharpe Ratio (1.55 vs -1.19), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.